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Virgin Galactic Loss Widens

Space tourism company Virgin Galactic Holdings (NYSE: SPCE) in Tustin said the net loss widened in the first quarter while reiterating its plans to start commercial service by the end of next month. The company’s shares were down in after-hours trading.

The company reported a net loss of $159 million in the three months ended March 31, compared with a net loss $93 million in the same period a year ago. Revenue in the quarter was $392,000, a figure expected to rise once commercial service starts.

The shares fell $2.8% to $3.97 apiece for a market cap of $1.2 billion as of 6.42 p.m. in New York.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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